Tests of Rationality in the Turkish Foreign Exchange Market

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dc.contributor.authorTopbas, Neslihan
dc.contributor.otherInternational Trade and Logistics
dc.date.accessioned2024-10-06T11:00:05Z
dc.date.available2024-10-06T11:00:05Z
dc.date.issued2014
dc.departmentAtılım Universityen_US
dc.department-temp[Topbas, Neslihan] Atilim Univ, Isletme Fak, Kizilcasar Mahallesi, TR-06836 Ankara, Turkeyen_US
dc.description.abstractThe rationality of expectations has been tested in many foreign exchange markets using survey data. This study is aimed at gaining empirical insights about the expectations of market participants in the Turkish foreign exchange market. Using survey data provided by Central Bank of Turkey on the exchange rate of the Turkish lira against the US dollar, it is determined that the mean of expectations of market participants for one year and one month ahead were higher than the mean of actual depreciation. The analysis resulted in rejection of the popular test for forward exchange rate unbiasedness in predicting the future spot exchange rate. Another test of rationality has also been checked and the result has been rejection as well, which can be interpreted that the forward premium contains additional information for exchange rate forecasts.en_US
dc.description.woscitationindexEmerging Sources Citation Index
dc.identifier.citationcount0
dc.identifier.endpage78en_US
dc.identifier.issn1303-0701
dc.identifier.issn1305-8800
dc.identifier.issue2en_US
dc.identifier.scopusqualityQ1
dc.identifier.startpage65en_US
dc.identifier.trdizinid221771
dc.identifier.urihttps://search.trdizin.gov.tr/en/yayin/detay/221771/tests-of-rationality-in-the-turkish-foreign-exchange-market
dc.identifier.urihttps://hdl.handle.net/20.500.14411/9073
dc.identifier.volume14en_US
dc.identifier.wosWOS:000219913000004
dc.institutionauthorTurguttopbaş, Pınar Neslihan
dc.language.isoenen_US
dc.publisherCentral Bank Republic Turkeyen_US
dc.relation.ispartofCentral Bank Reviewen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectForward exchange rateen_US
dc.subjectSpot exchange rateen_US
dc.subjectForeign exchange marketen_US
dc.subjectSurvey dataen_US
dc.titleTests of Rationality in the Turkish Foreign Exchange Marketen_US
dc.typeArticleen_US
dc.wos.citedbyCount0
dspace.entity.typePublication

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